Good morning folks! I hope you’re well!
No trades to update you on but we have two pairs on watch for some potential action today!
Canadian Yen is on my watch for a potential short. We haven’t seen a strong move lower from the high so far, but it did break the recent phase line / trend line while giving us a valid weekly stack.
Knowing that we have a zone and a fresh weekly I’m definitely keeping my eyes on this pair.
And yes, the zone is tiny, but that doesn’t mean it’s not good #sizedoesntmatter
Kiwi Yen is the second pair I have on my watchlist, it’s quite an interesting one we’re currently in between two zones, but we’re mainly interested in taking the short since the recent price action has been going higher but clearly decelerating so we could potential see a change in the trend.
Similarly to the CAD/JPY we also have a fresh weekly stack on this pair so that would enable us to take the position if our area of supply is reached and we see a clear script entry.
Have a good one folks!